ADANIPOWER looking for a base to ReFuelPlease have a look into the chart to get all details, I have tried to draw everything as much i found according to my study.
This Analysis is Based on Harmonic Pattern, Fibo & Price action.
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Adanipowershort
Adani Power Short Is that an evening star in formation ?
Firstly there has been two gaupup movement represented by circles. As we know gaps almost are always filled.And the gaps here will get filled only if the price comes down.
Secondly there has been a huge dump of shares as is visible in Volume.
Thirdly the RSI has reached 87.5 and needs to come down.
What do you think. Will the price comedown. Will it form an evening star pattern ?